“Only do business with clients who have impeccable integrity,” suggests Davy Blommaert, banker

Davy Blommaert heads the Diamond Business at National Bank of Fujairah, which falls under the bank’s corporate and institutional banking division. With nearly 10 years of experience in the diamond industry, he was tasked to establish a unit within NBF...


Russia’s export legislation is like a log on the road making it difficult to drive through

Eduard Utkin, General Manager of the Russian Jewellers Guild Association, which is a member of the Russian Federation Chamber of Commerce and Industry, answers the questions from Rough & Polished regarding the activities of the country’s professional...

11 march 2019

Botswana mum on new demands as negotiations with De Beers draw closer

Botswana said it will begin new diamond marketing and sales negotiations with De Beers in June or July this year. Mineral resources minister Eric Molale told Rough & Polished’s Mathew Nyaungwa on the sidelines of a mining conference in Cape Town, South...

04 march 2019

DLX-jewellery will focus more on colour stone designed pieces as well as diamond jewellery sets going forward - Jack Chen, General Manager, DLX-Jewellery

Graduating in International Business from an Institute in Sydney, Australia, in 2015, Jack Chen returned to China to start managing his family-owned jewellery business. Besides holding a certificate in a practical diamond course at Gemological Institute...

25 february 2019

Ali Pastorini: “We have to change a little the way to sell the idea that buying jewelry is just for glamour”

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together approximately 1000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

18 february 2019

Mountain Province declares dividend

10 august 2018

Mountain Province Diamonds said it has decided to declare a dividend of 4 cents per share following a “good” performance of the mine and cash reserves that stood at C$33.5 million as at June 30, 2018, a C$4.8 million increase from the prior quarter balance of C$28.7 million.

Image credit: Mountain Province

“The company's policy is to manage down the debt levels and to pay reasonable dividends based on available cashflows,” said Mountain Province chief executive Stuart Brown.
“The level of future dividends may go up or down dependent on these cashflows which are strongly linked to realised diamond prices as well as the covenants relating to dividend declarations under the revolving credit facility and the secured notes payable conditions. "
The company was also set to generate significant positive cash flows for the second half of the year as cash funding commitments for the Gahcho Kué Mine were heavily weighted to the first half of the year for winter road supply and capital commitments. 
Meanwhile, a record 1.9 million carats were recovered at an average grade of approximately 2.15 carats per tonne in the second quarter of 2018.
The first half output was 3,6 million carats compared with 2.5 million carats, a year earlier.
The increase in output was as a result of ongoing improvements and optimisation work since commercial production began in early 2017.
Mountain Province was targeting to produce between of 6.3 and 6.6 million carats this year.
Its sales during the second quarter of 2018 was the highest achieved to date in the company's history with C$99.1 million ($76.8 million) recognised as revenue. 
This excludes about C$10.7 million ($8.1 million) in revenue from 43,000 carats in Sale 5 which was not received until July 2018. 

Mathew Nyaungwa, Rough&Polished